Retire With Purpose - The Retirement Podcast

The discussion centers on turning market chaos into personal growth opportunities. Stress can be reinterpreted as a catalyst for thoughtful decision-making. A jazz analogy illustrates the importance of adaptability in financial choices. A four-step framework promotes character development during uncertainty. The speakers advocate for reflection to enhance investment strategies. Mindful decision-making techniques are shared, emphasizing emotional regulation during stressful times and prioritizing life's overall value over just financial gains.

Les McDaniel, a certified retirement coach from Howard Bailey Financial, shares valuable insights on aligning financial strategies with personal values. He discusses the transformative 50/30/20 budgeting rule and how it relates to life satisfaction. McDaniel emphasizes the importance of meaningful versus meaningless time in retirement and introduces the Satisfaction Ratio to enhance joy in daily life. Listeners are encouraged to reassess expectations and prioritize empowerment through financial choices, fostering a life rich in purpose.

The debate on the ideal age to claim Social Security unfolds, challenging the conventional wisdom of waiting until 70. Discover the benefits of filing early and how individual circumstances can shift the optimal claiming age. Understand the concept of a 'breakeven' point when comparing early versus delayed benefits. Delve into personalized strategies that cater to specific financial situations, particularly for singles or widowed individuals. Ultimately, learn how claiming benefits early can enhance your retirement income.

Les McDaniel, a certified retirement coach and the chief purpose officer at Howard Bailey Financial, joins Casey Weade to tackle profound existential questions about life and contentment. They dive into the impact of letting go of control and embracing uncertainty. Discover how the pursuit of pure contentment outweighs chasing fleeting happiness. The duo shares five thought-provoking questions designed to help listeners cultivate mindfulness and joy in the present, all while navigating life's complexities.

In this discussion with Larry Swedroe, former Chief Research Officer at Buckingham Strategic Wealth and author of over 18 books, listeners dive deep into the world of evidence-based investing. Larry emphasizes the power of passive investing and its role in wealth-building. He discusses common emotional biases that lead to poor investment decisions and highlights the importance of a globally diversified portfolio. With insights on risk versus uncertainty, he provides retirees with essential strategies to navigate investment challenges confidently.

Feeling uneasy about market turmoil? Discover a four-point checklist to safeguard your retirement savings. Explore how emotional resilience can guide your financial decisions during chaos. Learn about strategic tax management, including tax loss harvesting and Roth conversions, to capitalize on downturns. The impact of quantum computing on market stability is also discussed. Equip yourself with innovative strategies to enhance your investment strategy and ensure financial security in uncertain times.

How ready are you for retirement? Discover the crucial differences between financial and non-financial readiness. Explore the importance of a solid income strategy and long-term care insurance. Learn how to assess your personal financial situation and prepare for changes ahead. This insightful discussion will guide you through the levels of retirement readiness and provide actionable advice to ensure a smoother transition into this exciting phase of life.

Les McDaniel, a certified retirement coach, joins to discuss the non-financial aspects of retirement timing. They explore the irrational fears that often hold people back from retiring and explain the '3 Cs' of timing: family, health, and social considerations. A fable about a fisherman reimagines the balance between work and leisure, while emphasizing the need for planning a fulfilling post-retirement life. The conversation also touches on the benefits of staggered retirement for couples and the importance of financial guidance in building a robust retirement strategy.

Market volatility is inevitable. Whether you’re 10 months or 10 years into retirement, it’s vital to ask: is your investment strategy prepared?  In this episode, we discuss:  Why market volatility is necessary When down markets no longer become an opportunity How to avoid sequence of returns risk 4% withdrawal rule flaws Today's articles are from The Best Interest blog titled, Should I “Reset” Retirement Withdrawals in Bad Markets? and Are You Not Entertained?! Listen in as Founder and CEO of Howard Bailey Financial, Casey Weade, breaks down the article and provides thoughtful insights and advice on how it applies to your unique financial situation. Show Notes: RetireWithPurpose.com/490 📧 WEEKEND READING FOR RETIREES: Receive CFP® insight on 4 hand-picked financial articles delivered straight to your Inbox each Friday: https://bit.ly/3OEdGgu  📅 SCHEDULE YOUR PERSONAL FINANCIAL REVIEW: Book a 15-minute call with Howard Bailey Financial to see how the topics discussed here apply to your individual situation: https://bit.ly/3z5mXIw  ABOUT HOWARD BAILEY FINANCIAL: Our mission is to help others gain clarity in purpose and elevate meaning in their lives through personal and practical financial strategies. Our Retire With Purpose™ Framework starts with establishing your unique financial philosophy — the true meaning and purpose for your money in retirement. Through continued education, one-on-one meetings, and a comprehensive team planning approach, we have helped retirees across the country secure their financial futures. And while we can't work with everyone, our goal is to provide value to everyone we meet. Our team of advisors and support specialists strive to deliver the very best experience in pre-retirement and retirement planning. Learn more about our process here: https://howardbailey.com/our-process

Les McDaniel, a certified retirement coach and chief purpose officer, challenges conventional beliefs about security. He discusses the pitfalls of the linear success myth, encouraging listeners to embrace flexibility and create their unique paths. Delving into the importance of living in the moment, he highlights the balance between enjoying life now and planning for the future. McDaniel also emphasizes the role of community in fostering well-being, pushing against four common myths about security that often keep people feeling stuck.